Dubai, United Arab Emirates, October 14, 2024, Chainwire
Bybit, the world's second-largest cryptocurrency change by buying and selling quantity, is happy to announce the continued progress and growth of its progressive liquid staking token, bbSOL. As Bybit's first Liquid Staking Token (LST), bbSOL continues to supply customers a seamless and safe approach to stake SOL and earn aggressive rewards.
Because of the speedy adoption of bbSOL, the entire quantity locked exceeded USD 100 million in a brief time frame. Past staking rewards, bbSOL holders can additional enhance their incomes potential by way of three key alternatives:
- Offering liquidity to bbSOL buying and selling pairs: Customers can earn buying and selling charges by offering liquidity to decentralized exchanges corresponding to Orca, Raydium, and Kamino.
- Use bbSOL as collateral: bbSOL can be utilized as collateral on associate platforms corresponding to Drift, Kamino, marginfi, and Save, permitting customers to lend and borrow and earn increased returns.
- Re-stake bbSOL to earn further rewards: By associate platforms corresponding to Solayer, customers can re-stake bbSOL to generate further rewards whereas supporting community safety and governance.
“We’re excited to see bbSOL’s continued progress and success. The rise in whole worth locked displays the boldness our customers have in bbSOL as a dependable and helpful digital asset. It reveals confidence,” added Emily Bao, Head of Spot and Web3 at Bybit.
bbSOL's attain spans each centralized and decentralized exchanges, solidifying its place because the main liquid staking token. Bybit stays dedicated to offering progressive services and products that allow customers to achieve the digital asset area.
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About Bybit
Bybit is the world's second-largest cryptocurrency change by buying and selling quantity, serving over 50 million customers. Based in 2018, Bybit gives knowledgeable platform the place crypto buyers and merchants can discover a lightning-fast matching engine, 24/7 customer support, and multilingual group help. Bybit is a proud associate of the Oracle (NYSE:) Crimson Bull Racing Group, F1's reigning Constructors' and Drivers' Champions.
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contactPublic Relations SupervisorTony OBybit[email protected]
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